Apollo wins bid to manage Singapore’s $1 billion private credit fund

* Apollo Global Management (NYSE:APO [https://seekingalpha.com/symbol/APO]) has secured the mandate to manage Singapore’s $1 billion private credit fund aimed at supporting high-growth local enterprises, according to a government procurement portal.
* The Ministry for Trade and Industry and Enterprise Singapore in March introduced the $1 billion Private Credit Growth Fund, which aims to provide non-dilutive customized financing for high-growth local enterprises, according to a statement.
* It will announce more details about the fund by the third quarter, the statement said.
* The Private Credit Growth Fund, unveiled during Singapore’s budget speech in February, is part of the country’s broader effort to strengthen its foothold in the rapidly expanding $1.7 trillion private debt market.

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